Thank you, Jerry, and congratulations to Alison Watson on becoming the new Chancellor of the Exchequer Club. I hope your new position does not cause Northwestern Mutual to be deemed systemically important.
I am pleased to have this opportunity to speak to the members of the Exchequer Club ─ including my colleague Heather Wingate, who is head of global government relations for MetLife and a Club member.
In my remarks today, I will ─
Provide some background on MetLife;
Describe ─ in general terms ─ our interactions with FSOC;
Discuss our legal challenge to our designation as a systemically important company; and
Propose an alternative to the FSOC designation process.